Courtney Spencer - 23 Feb 2026 Form 4 Insider Report for Live Oak Bancshares, Inc. (LOB)

Role: Chief Experience Officer
Signature: /s/ Jonathan A. Greene, By Power of Attorney
Issuer symbol: LOB
Transactions as of: 23 Feb 2026
Net transactions value: -$34,049
Form type: 4
Filing time: 25 Feb 2026, 17:28:23 UTC
Previous filing: 19 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Spencer Courtney	Chief Experience Officer	1741 TIBURON DRIVE, WILMINGTON	/s/ Jonathan A. Greene, By Power of Attorney	25 Feb 2026	0001937224

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LOB	Voting Common Stock	Options Exercise		+2,000	+6.8%		31,425	23 Feb 2026	Direct	F1
transaction	LOB	Voting Common Stock	Tax liability	$34,049	-889	-2.8%	$38.30	30,536	23 Feb 2026	Direct
holding	LOB	Voting Common Stock						154	23 Feb 2026	By Spouse

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LOB	Restricted Stock Units	Options Exercise	$0	-2,000	-100%	$0.000000	0	23 Feb 2026	Voting Common Stock	2,000		Direct	F1, F2
holding	LOB	Restricted Stock Units						1,580	23 Feb 2026	Voting Common Stock	1,580		Direct	F1, F3
holding	LOB	Restricted Stock Units						6,384	23 Feb 2026	Voting Common Stock	6,384		Direct	F1, F4
holding	LOB	Restricted Stock Units						5,690	23 Feb 2026	Voting Common Stock	5,690		Direct	F1, F5
holding	LOB	Restricted Stock Units						6,586	23 Feb 2026	Voting Common Stock	6,586		Direct	F1, F6
holding	LOB	Restricted Stock Units						5,701	23 Feb 2026	Voting Common Stock	5,701		Direct	F1, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock unit ("RSU") represents a contingent right to receive one share of Live Oak Bancshares, Inc. (the "Company") voting common stock.
F2	2,000 of the RSUs vested on each of February 22, 2023, 2024 and 2025, and February 23, 2026.
F3	The RSUs vest in five equal annual installments beginning on February 14, 2023, subject to the reporting person's continuous service to the Company or a related entity on such date.
F4	The RSUs vest in five equal annual installments beginning on February 12, 2025, subject to the reporting person's continuous service to the Company or a related entity on such date.
F5	The RSUs vest in five equal annual installments beginning on February 13, 2024, subject to the reporting person's continuous service to the Company or a related entity on such date.
F6	The RSUs vest in five equal annual installments beginning on February 9, 2027, subject to the reporting person's continuous service to the Company or a related entity on such date.
F7	The RSUs vest in five equal annual installments beginning on February 10, 2026, subject to the reporting person's continuous service to the Company or a related entity on such date.